Can the value of media coverage be quantified financially? Yes!

The value of media coverage can be quantified financially, if you ask Hypefactors' CEO Casper Janns.

But not all agree to this. As communications professionals have moved away from the AVE method, some alternative thinking has emerged. Back in 2010 AMEC launched the 'Barcelona Principles' rejecting the idea of AVE and of a financial value as a metric for the outcome of media coverage. The seven Barcelona Principles were updated in 2015 and are:

(1) Goal setting and measurement are fundamental to communication and Public Relations,
(2) Measuring communication outcomes is recommended versus only measuring outputs,
(3) The effect on organisational performance can and should be measured where possible,
(4) Measurement and evaluation require both qualitative and quantitative methods,
(5) AVEs are not the value of communications,
(6) Social media can and should be measured consistently with other media channels,
(7) Measurement and evaluation should be transparent, consistent and valid.

Does the principles make sense? Absolutely. Are they operational? Not really, as the conclusion is that measurement needs to be done from project to project and that it depends on the specific organisation, specific project etc. In real life, this isn't very operational. Which is why we developed 'Hypefactors Value'